vs
Side-by-side financial comparison of JFrog Ltd (FROG) and HA Sustainable Infrastructure Capital, Inc. (HASI). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $114.8M, roughly 1.3× HA Sustainable Infrastructure Capital, Inc.). JFrog Ltd runs the higher net margin — -10.5% vs -46.8%, a 36.4% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs 13.3%). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% CAGR vs 4.2%).
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
FROG vs HASI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $145.3M | $114.8M |
| Net Profit | $-15.2M | $-53.8M |
| Gross Margin | 77.9% | — |
| Operating Margin | -14.7% | -57.4% |
| Net Margin | -10.5% | -46.8% |
| Revenue YoY | 25.2% | 13.3% |
| Net Profit YoY | 34.4% | -176.7% |
| EPS (diluted) | $-0.13 | $-0.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $145.3M | $114.8M | ||
| Q3 25 | $136.9M | $103.1M | ||
| Q2 25 | $127.2M | $85.7M | ||
| Q1 25 | $122.4M | $96.9M | ||
| Q4 24 | $116.1M | $101.3M | ||
| Q3 24 | $109.1M | $82.0M | ||
| Q2 24 | $103.0M | $94.5M | ||
| Q1 24 | $100.3M | $105.8M |
| Q4 25 | $-15.2M | $-53.8M | ||
| Q3 25 | $-16.4M | $83.3M | ||
| Q2 25 | $-21.7M | $98.4M | ||
| Q1 25 | $-18.5M | $56.6M | ||
| Q4 24 | $-23.2M | $70.1M | ||
| Q3 24 | $-22.9M | $-19.6M | ||
| Q2 24 | $-14.3M | $26.5M | ||
| Q1 24 | $-8.8M | $123.0M |
| Q4 25 | 77.9% | — | ||
| Q3 25 | 77.4% | — | ||
| Q2 25 | 76.3% | — | ||
| Q1 25 | 75.3% | — | ||
| Q4 24 | 75.4% | — | ||
| Q3 24 | 75.0% | — | ||
| Q2 24 | 78.8% | — | ||
| Q1 24 | 79.5% | — |
| Q4 25 | -14.7% | -57.4% | ||
| Q3 25 | -15.8% | — | ||
| Q2 25 | -20.4% | — | ||
| Q1 25 | -18.8% | 84.7% | ||
| Q4 24 | -21.9% | 90.9% | ||
| Q3 24 | -27.4% | -32.1% | ||
| Q2 24 | -18.6% | 39.5% | ||
| Q1 24 | -16.6% | — |
| Q4 25 | -10.5% | -46.8% | ||
| Q3 25 | -12.0% | 80.8% | ||
| Q2 25 | -17.0% | 114.9% | ||
| Q1 25 | -15.1% | 58.4% | ||
| Q4 24 | -20.0% | 69.2% | ||
| Q3 24 | -21.0% | -23.9% | ||
| Q2 24 | -13.9% | 28.1% | ||
| Q1 24 | -8.8% | 116.3% |
| Q4 25 | $-0.13 | $-0.38 | ||
| Q3 25 | $-0.14 | $0.61 | ||
| Q2 25 | $-0.19 | $0.74 | ||
| Q1 25 | $-0.16 | $0.44 | ||
| Q4 24 | $-0.21 | $0.58 | ||
| Q3 24 | $-0.21 | $-0.17 | ||
| Q2 24 | $-0.13 | $0.23 | ||
| Q1 24 | $-0.08 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $704.4M | $110.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $887.4M | $2.7B |
| Total Assets | $1.3B | $8.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $704.4M | $110.2M | ||
| Q3 25 | $651.1M | $301.8M | ||
| Q2 25 | $611.7M | $86.5M | ||
| Q1 25 | $563.5M | $67.4M | ||
| Q4 24 | $522.0M | $129.8M | ||
| Q3 24 | $467.8M | $44.1M | ||
| Q2 24 | $591.3M | $145.7M | ||
| Q1 24 | $579.6M | $61.4M |
| Q4 25 | $887.4M | $2.7B | ||
| Q3 25 | $859.4M | $2.7B | ||
| Q2 25 | $826.5M | $2.6B | ||
| Q1 25 | $800.0M | $2.5B | ||
| Q4 24 | $773.5M | $2.4B | ||
| Q3 24 | $756.2M | $2.3B | ||
| Q2 24 | $721.4M | $2.3B | ||
| Q1 24 | $707.8M | $2.3B |
| Q4 25 | $1.3B | $8.2B | ||
| Q3 25 | $1.3B | $8.2B | ||
| Q2 25 | $1.2B | $7.6B | ||
| Q1 25 | $1.2B | $7.5B | ||
| Q4 24 | $1.1B | $7.1B | ||
| Q3 24 | $1.1B | $6.7B | ||
| Q2 24 | $1.0B | $6.7B | ||
| Q1 24 | $997.1M | $6.7B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $50.7M | $167.3M |
| Free Cash FlowOCF − Capex | $49.9M | — |
| FCF MarginFCF / Revenue | 34.3% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $142.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $50.7M | $167.3M | ||
| Q3 25 | $30.2M | $-121.8M | ||
| Q2 25 | $36.1M | $79.6M | ||
| Q1 25 | $28.8M | $-37.1M | ||
| Q4 24 | $49.1M | $5.9M | ||
| Q3 24 | $27.6M | $21.9M | ||
| Q2 24 | $16.7M | $-24.8M | ||
| Q1 24 | $17.5M | $20.9M |
| Q4 25 | $49.9M | — | ||
| Q3 25 | $28.8M | — | ||
| Q2 25 | $35.5M | — | ||
| Q1 25 | $28.1M | — | ||
| Q4 24 | $48.5M | — | ||
| Q3 24 | $26.7M | — | ||
| Q2 24 | $16.0M | — | ||
| Q1 24 | $16.6M | — |
| Q4 25 | 34.3% | — | ||
| Q3 25 | 21.0% | — | ||
| Q2 25 | 27.9% | — | ||
| Q1 25 | 23.0% | — | ||
| Q4 24 | 41.8% | — | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | 15.5% | — | ||
| Q1 24 | 16.6% | — |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.46× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | -0.66× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.94× | ||
| Q1 24 | — | 0.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
